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Federal Government Is Tapering off Stimulus Package for The Housing Industry

Mortgage rates in the U.S. increased slightly, following positive housing news on housing starts and building permits, and the policy announcement from the Federal Reserve, according to Freddie Mac.  

The 30-year fixed-rate mortgage averaged 4.47 percent this week, increasing from 4.42 percent last week. At this time last year, the average was 3.37 percent.  

Mortgage rates increased slightly leading up to the Federal Reserve's announcement to begin trimming its bond buying program and start tapering off the stimulus package for the housing industry. 

Frank Nothaft "The Fed noted that the economy expanded at a modest pace, but the unemployment rate remains elevated," Frank Nothaft, vice president and chief economist, Freddie Mac, said in the report. "In addition, housing starts in November rose to a seasonally adjusted annual rate of 1,091,000, the highest rate since February 2008. Permits were at a seasonally adjusted annual rate of 1,007,000 in November, 7.9 percent higher than in November 2012." 

The 15-year fixed-rate mortgage averaged 3.51 percent this week, increased from 3.43 percent last week. Last year at this time it was 2.65 percent.  

The one-year treasury-indexed ARM averages 2.57 percent this week, up from 2.51 percent last week. 

If you are thinking about upsizing or down sizing or first time buying a home, now will be the best time to make this happen.  The home you are looking to buy will also increase in price over the next 12 months.

5 Comments to Federal Government Is Tapering off Stimulus Package for The Housing Industry:

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Furnished Apartments on Monday, December 23, 2013 2:54 AM
There were useful information about housing trends in your blog. I can say it was well written and informative post about that topic.
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affordable housing in Idaho on Thursday, February 06, 2014 7:55 AM
Nice post about "Housing-Industry" .Home loan rates in the U.S. improved a little bit, following positive real estate information on real estate begins and building allows, and the plan statement from the Government Source, according to Freddie Mac.

austine on Tuesday, February 11, 2014 5:16 AM
Great blog post !!!Can I just say what a relief to find someone who actually knows what theyre talking about on the internet? You definitely know how to bring an issue to light and make it important. More people need to read this and understand this side of the story. I cant believe youre not more popular because you definitely have the gift.
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Mortgage course on Wednesday, February 26, 2014 4:05 AM
Its really a positive news for households.it is really beneficial to have increased mortgage rate and it would have a positive results in the property rates.
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Kidman on Tuesday, July 22, 2014 6:26 AM
A very informative site. The way you have share this information is really very appreciative. Hope to see more on this topic here. Thanks for posting this information here.
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